A Conditional Lien Waiver is a crucial document in Austrian construction and property development projects, used when a contractor, subcontractor, or supplier agrees to waive their lien rights against a property upon receiving specific payment. This document type is particularly important in Austria, where property rights and construction liens are strictly regulated under the ABGB (Austrian Civil Code) and related legislation. The Conditional Lien Waiver includes essential information such as party details, project specifics, payment amounts, and the precise conditions under which the waiver becomes effective. It serves as a risk management tool for property owners while protecting the rights of contractors and suppliers to receive payment for their work or materials. The document is typically used during project progress payments or final payment stages, and must comply with Austrian legal requirements for lien waivers and property rights.
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1. Identification of Parties: Full legal names and addresses of the Lien Holder (typically contractor/subcontractor) and the Property Owner/General Contractor
2. Project Information: Details of the construction project, including property address, project name, and contract reference numbers
3. Payment Amount: Specific amount of payment that triggers the lien waiver, including any previous payments and current payment details
4. Waiver Conditions: Clear statement of the conditions that must be met for the waiver to become effective, typically the receipt and clearing of payment
5. Scope of Waiver: Specific description of what rights are being waived, including the time period covered by the waiver
6. Representations and Warranties: Statements confirming the lien holder's authority to execute the waiver and that no assignment of lien rights has occurred
7. Execution: Signature blocks, date, and any notarization requirements under Austrian law
1. Retention of Rights: Section specifying any rights that are explicitly retained, used when partial waiver is intended
2. Third-Party Claims: Section addressing potential claims by subcontractors or suppliers, included when the waiving party has subcontractors
3. Previous Payments: Detailed listing of previous payments received, included for progress payments in ongoing projects
4. Governing Law: Explicit reference to Austrian law application, included in international projects or when dealing with foreign entities
1. Schedule A - Project Details: Detailed description of the project, including plans, specifications, and scope of work covered by the lien waiver
2. Schedule B - Payment History: Detailed breakdown of all payments received and outstanding amounts
3. Schedule C - Supporting Documents: Copies of relevant invoices, payment applications, or other supporting documentation
4. Appendix 1 - Property Description: Legal description of the property and relevant land register details
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